Emaar Properties hires banks to arrange potential issuance of dollar Islamic bonds

Emaar Properties said on Tuesday it has hired banks to arrange a potential issuance of dollar Islamic bonds.

In a statement on Dubai Financial Market where it's listed, the property giant said that the planned issuance is part of Emaar's US$2 billion Trust Certificate Issuance Programme.

It was also announced that Emaar is seeking to issue a 10-year sukuk after meeting investors in Asia and London from September 6.

Standard Chartered has been hired as sole global coordinator for the new sukuk deal. Other banks leading the transaction are Dubai Islamic Bank, as Shariah Advisor, Deutsche Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Sharjah Islamic Bank.

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